Tesla Motors Reaches Agreement with Panasonic to Receive 2 Billion Automotive Grade Lithium-Ion Battery Cells Over Four Years - Video News Alert Posted on InvestmentPitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, November 4, 2013 - Tesla Motors (NASDAQ:TSLA)
reached an agreement with Panasonic, whereby Panasonic is expanding its supply
of automotive grade lithium-ion battery cells to the car company. It will now
supply 2 billion battery cells to Tesla Motors.
InvestmentPitch.com has produced a "video news alert" based on this news. If
this link is not enabled, please visit www.InvestmentPitch.com and enter "Tesla"
in the search box.
As a point of reference one car requires close to 7000 cells to power up. That
means all of these cells will be used to power around 300,000 new vehicles over
the next four years - including the award winning Model S, and the upcoming
Model X. The Model X is a performance utility vehicle scheduled for production
by the end of next year, that's 2014. This agreement suggests a significant
expansion for Tesla.
Elon Musk, CEO and Co-founder of Tesla said "This expanded agreement is
important to Tesla as we continue to increase the pace of production. We look
forward to strengthening our relationship with Panasonic, and I'm confident this
partnership will continue to be an integral part of Tesla's success for years to
come."
The companies have developed a next-generation battery cell that provides the
highest energy density and the best performance cells in the market. Panasonic's
cylindrical cell is a customized technology made to optimize electric car
quality and life. These enhanced cells are then integrated into the Tesla
battery pack to enable an approximate range of 265 miles for the Model S.
Tesla's goal is to accelerate the world's transition to electric mobility by
providing a full range of increasingly affordable electric cars. To date they've
delivered over 15 thousand electric vehicles to customers in 37 countries,
recently entering the European market, with Asia expected to be next. A customer
in China reportedly paid more than $400,000 for a model S, for the privilege of
being the first person in Asia to own one.
In California, Tesla is now the third biggest selling luxury car, behind the
Mercedes E Class and the BMW 5 Series.
Tesla's shares were trading at $160 on November1, 2013.
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lmapstone(at)investmentpitch.com.
About InvestmentPitch
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Barry Morgan, CFO
bmorgan(at)investmentpitch.com
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Datum: 04.11.2013 - 19:31 Uhr
Sprache: Deutsch
News-ID 312416
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